D.R. Horton Inc. (DHI) Sees Large Volume Increase

Shares of D.R. Horton Inc. (NYSE:DHI) saw unusually-high trading volume on Wednesday . Approximately 3,169,051 shares traded hands during trading, a decline of 6% from the previous session’s volume of 3,354,913 shares.The stock last traded at $32.54 and had previously closed at $31.77.

DHI has been the topic of several analyst reports. Zacks Investment Research downgraded shares of D.R. Horton from a “buy” rating to a “hold” rating in a report on Monday, May 9th. Argus initiated coverage on shares of D.R. Horton in a report on Friday, June 17th. They set a “buy” rating and a $39.00 price target on the stock. Sterne Agee CRT downgraded shares of D.R. Horton from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a report on Friday, April 22nd. They noted that the move was a valuation call. Royal Bank Of Canada upped their price target on shares of D.R. Horton from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, March 21st. Finally, Credit Suisse Group AG reiterated a “hold” rating on shares of D.R. Horton in a report on Tuesday, June 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $31.65.

The stock has a market capitalization of $12.13 billion and a P/E ratio of 15.02. The company’s 50 day moving average price is $30.79 and its 200-day moving average price is $29.29.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings results on Thursday, April 21st. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the prior year, the business earned $0.40 earnings per share. D.R. Horton’s revenue was up 15.5% on a year-over-year basis. Equities analysts forecast that D.R. Horton Inc. will post $2.38 EPS for the current fiscal year.

In other D.R. Horton news, CFO Bill W. Wheat sold 40,000 shares of D.R. Horton stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $30.37, for a total transaction of $1,214,800.00. Following the completion of the sale, the chief financial officer now directly owns 108,014 shares in the company, valued at $3,280,385.18. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Donald R. Horton sold 149,035 shares of D.R. Horton stock in a transaction dated Friday, April 29th. The shares were sold at an average price of $29.88, for a total transaction of $4,453,165.80. Following the sale, the chairman now owns 24,977,347 shares of the company’s stock, valued at $746,323,128.36. The disclosure for this sale can be found here.

Several large investors recently made changes to their positions in DHI. PNC Financial Services Group Inc. boosted its stake in shares of D.R. Horton by 171.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,330,472 shares of the company’s stock worth $106,673,000 after buying an additional 2,105,645 shares in the last quarter. Morgan Stanley boosted its position in shares of D.R. Horton by 56.6% in the fourth quarter. Morgan Stanley now owns 3,214,773 shares of the company’s stock worth $102,970,000 after buying an additional 1,161,270 shares during the period. Vanguard Group Inc. boosted its position in shares of D.R. Horton by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 29,670,164 shares of the company’s stock worth $950,335,000 after buying an additional 1,135,540 shares during the period. Redwood Investments LLC acquired a new position in shares of D.R. Horton during the fourth quarter worth $17,936,000. Finally, Winton Capital Group Ltd acquired a new position in shares of D.R. Horton during the fourth quarter worth $17,335,000.

D.R. Horton, Inc is a homebuilding company. The Company is engaged in the acquisition and development of land and the construction and sale of residential homes, through its operating divisions in around 27 states and over 79 metropolitan markets of the United States, under the names of D.R. Horton, America’s Builder, Express Homes, Emerald Homes, Breland Homes, Regent Homes, Crown Communities and Pacific Ridge Homes.